For seniors 55+, social security accounts for 40% of their income; followed by earnings (25%), pensions (19%), asset income (14%), and “other” at 2%.
Source: Federal Interagency Forum on Aging-Related Statistics
Note: In my 15+ years of dealing with the 65+ market, the only “pocket” they will pull money from for daily expenses is social security. This is one of the reasons less than 3% of the age and income qualified mature market ever makes the move to a retirement community. The value of the home and income-earning assets is viewed as “untouchable.”
Filed under: Statistics, TR Mann, Uncategorized | Tagged: 55+, 65+, age, asset income, experts, Federal Interagency Forum on Aging Related Statistics, income, income qualified, mature market, money, pensions, retirement community, social security
